...Abstract Family governance is a topic of substantial practical relevance that merits much more attention in family business research ( Gersick & Feliu, 2014 ; Suess, 2014 ). The purpose of this book chapter is to use the framework of a fair process to gain a better understanding of how family...

... of handling the shared ownership emerges, and a process for developing a family governance structure is often initiated. Family governance, hence, appears to be a central topic in family business research, but we still lack a more profound and specific understanding of how the owner family uses different...

...Abstract Prior family business research has been dominated by an agency theory perspective, narrow definitions of what constitutes family wealth, and a preoccupation with business governance mechanisms to the exclusion of family governance mechanisms. This chapter presents the findings...

... with the discussion of family constitutions in legal literature. This new instrument of family governance is not law driven but business driven, it has been designed by business advisors. Its analysis and classification are still at the very beginning in academic research and practice. Even though family...

... flexibility family-owned firms family governance subsidiarity 1. Introduction It could be construed as reasonable to assume that a substantial body of research on governance aspects of small family-owned firms exists. Yet despite such firms constituting the dominant form of business around the world...